Benefitting from a large-scale public investment program, Panama’s economy will likely withstand the current global economic slowdown and continue to grow solidly. While government finances remain stable, challenges might arise over the medium-term.

Owing to its close ties with neighboring Italy and various domestic problems, Slovenia has been suffering from contagion from the euro area debt crisis. Its economic recovery remains highly export-dependent on the back of a sizable banking crisis.

The small open economy of Slovakia rebounded comparatively well from the 2009 recession, posting 4% economic growth in 2010 on the back of strongly recovering exports. Domestic demand, however, did not yet contribute to economic growth and its contribution in the coming years will be limited by the government’s austerity measures.

Benefiting from the expansion of the Panama Canal and a series of large-scale public investment projects, the Panamanian economy emerged from the global economic crisis as the bestperforming Central American economy, posting 7.5% economic growth in 2010.

The hydrocarbon-dependent economy of Trinidad and Tobago was hit hard by the global economic downturn. Oil and gas prices tumbled and one of the country’s largest financial conglomerates had to be bailed out by the government.

Being renowned for its business-friendly tax climate and sophisticated financial
infrastructure, the country has become the largest (re)insurance jurisdiction in the World after New York and London. Maintaining Bermuda’s favourable operating environment for the financial sector is a key policy objective.

Thanks to considerable fiscal stimulus, Costa Rica has weathered the global economic crisis and the decline in US demand for its exports relatively well. As stimulus is not yet withdrawn and prospects for the US economy are improving, economic growth for the next years is expected to reach 4.3% on average

After having avoided dipping into recession in 2009 on the back of countercyclical fiscal and monetary stimulus made possible by an IMF stand-by agreement, the Dominican Republic’s economic recovery outpaced most of its neighbours in 2010. I